not vested
AIA new business value shrinks by 27pc to US$841m Shares of AIA (1299) climbed by 1.64 percent to HK$68.25 today despite reporting that new business value, in constant exchange rates, shrank by 27 percent from a year ago to US$841 million (HK$6.56 billion) during the first quarter this year, worse than expected.
The insurer emphasized that the value of new business in mainland China had recovered strongly in March.
Annualized new premiums fell by 18 percent year-on-year, while the value of new business margin dropped by 6.9 percentage points to 56.6 percent for the first quarter.
AIA's total weighted premium income grew by 8 percent from a year earlier to around US$8.8 billion.
Chief executive Ng Keng-hooi said measures to contain the coronavirus pandemic had the most significant impact on the company's businesses in Hong Kong and mainland China during the first quarter.
In aggregate, AIA's businesses outside the two markets saw strong new business value growth before incremental movement restrictions began to slow momentum in March, he said.
However, the company recorded a double-digit increase in new agency recruits during the first quarter, supported by its new online capabilities in recruitment and training, said Ng.
Source: The Standard
https://www.thestandard.com.hk/breaking ... to-US$841m
It's all about "how much you made when you were right" & "how little you lost when you were wrong"